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JAVA Reduces Headcount

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November 14, 2008 | Comment(s): 0
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JAVA

Sun Microsystems Inc. (JAVA) declared that it will shed 15% to 18% of its work force, citing the global financial downturn. The Santa Clara-based computer maker expects this headcount reduction to result in annual cost savings of $700 million and $800 million.

Sun also stated that it is dividing its software organization into three business groups: Application Platform Software, Systems Platforms, and Cloud Computing & Developer Platforms.

Shares of Sun are up almost 4% today.

Read the full analyst report on JAVA

 

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